Nauru Tower Condominium
1330 Ala Moana Blvd., Honolulu, HI 96814
Built: 1991

Summary
Since the March 2008 Nauru Tower Condominium Market Report, the sales dynamics of Nauru Tower have not improved much.  In that report, I noted five units had been listed for sale over 200 days; they are still with us.  They were removed from the market for a short time and re-listed for sale, but that doesn’t change the fact that they have been available for several hundred days.  That said, there is a great mix of one and two-bedroom units for sale (low, mid and high floor).  All but one of the eight units for sale are said to be in excellent condition.  The best advice I have for both buyers and sellers is to study the most recent sales data before deciding on an offer or selling price.

Nauru Tower Condominium
1330 Ala Moana Blvd., Honolulu, HI 96814
Built: 1991

Schools
Elementary:  Kaahumanu
Middle:  Central
High:  McKinley

Features
Conveniently located across the street from the Ala Moana Beach Park and just one block from the Ala Moana Shopping Center, Ward Centers and the Whole Foods Market currently under construction.

Availability
Units in the building:  302
Units available for sale:  8
Average days on market to date:  69**
Units listed for sale in the last 30 days:  5
Months of inventory available:  6.9

**This figure is misleading as several units were previously on the market over 200 days.  The listings either expired or were withdrawn and then were subsequently listed for sale again.  This practice artificially reduces the average days on market figure.

Sales
Units under contract in escrow:  2
Units sold in the last 30 days:  1
Average days on market:  257
Sales Price / List Price:  92%

Would you like to learn more?  Please visit my web site to view Nauru Tower units for sale, contact Michael Zimmerman for a no obligation consultation or conduct your own Honolulu home MLS search.

Nauru Tower Condominium

1330 Ala Moana Blvd., Honolulu, HI 96814
Built: 1991

Elementary School:  Kaahumanu
Middle School:  Central
High School:  McKinley

Feature
Conveniently located across the street from the Ala Moana Beach Park and just one block west of the Ala Moana Shopping Center.

Summary
Of the 11 units available for sale, three have been on the market over 300 days (two of those three have been on and off the market dating back to mid 2006) and two units have been available for over 200 days.  Why aren’t these units selling?  It’s not location.  It’s not condition as all are advertised to be in excellent condition.  So that leaves price.  It appears there are quite a few owners who may not be all that serious about selling their home.  At some point, one or more of these units may present a great opportunity for a patient buyer.

There are very few three bedroom units available in Nauru Tower, but one is available as of March 12.  This unit combines the two bedroom unit 3301 and one bedroom unit 3302.  It even has a bonus room that can be used as a fourth bedroom or a den.  This unit isn’t for everyone, but presents a unique opportunity for someone looking to reshape the unit to their liking.

Availability
Units in the building:  302
Units available for sale:  11
Average days on market to date:  167
Units listed for sale in the last 30 days:  2
Months of inventory available:  6.6

Sales
Units under contract in escrow:  2
Units sold in the last 30 days:  3
Average days on market:  153

Would you like to learn more?  Please visit my web site to view Nauru units for sale, contact Michael Zimmerman for a no obligation consultation or conduct your own Honolulu home search.

This is the first of a series of posts that illustrate what can happen if the seller and/or the seller’s agent do not listen to what the market is saying.  If you are selling your property, don’t make the same mistake.

Three major factors that affect how long it takes to sell a home

• Location - You have no control over this, but a prime location will generate more interest than a remote location.
• Condition - You have total control over condition and you can increase value and decrease marketing time by ensuring your property is in the best possible condition.
• Pricing - Again, you have total control.  Choosing a listing price above market almost guarantees your home will remain on the market for a long time. 

Property:  Nauru Tower
1330 Ala Moana Blvd. #2501, Honolulu, HI 96814

Total days on the market:  279
Sold at 84.2% of original list price

What can we learn from this?

1.  Sellers should carefully select a competent agent who isn’t afraid to arm them with the truth.  Knowledge is power.

2.  Sellers must wisely choose their listing price.

3.  The longer your home remains listed above the market price, the more you transfer power to the buyer.

4.  If you are listing your property with the hopes of getting your dream price, chances are, you’ll be frustrated and disappointed.

5.  If you truly want or need to sell your home, do it right by setting a realistic price.  Contact Michael Zimmerman for help.  I like to do things right the first time.